Paraxylene (PX) prices dropped unexpectedly leading buyers to withdraw their offers due to confused situation.
Sources reported that PX prices seemed strong at the start of the week, affected by increasing demand in the PTA and downstream polyester sector and also higher energy prices.
However, on Wednesday the prices were reported to have declined to US $975 per metric ton CFR Taiwan levels which is much lower than the market price between $995-1000 per metric ton CFR levels.
Buyers are not making any deals as yet, so as to be sure where the prices stand.
Further confusion spread when the April contract prices for Asia were alleged to have gone down to around $950 per metric ton levels.
marketing@alchempro.com
